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POSCO Union Rejects Wage Deal with Re-strike Looming

POSCO’s labor and management reached the first tentative agreement following the first strike since the company’s foundation, but they are at the crossroads of a renewed strike due to the union’s…

  • POSCO union rejects wage deal, votes 4,744 to 2.6% salary increase
  • Union demands 7.1% increase, rejecting 6 million won lump sum
  • Strike looms as negotiations resume for second tentative agreement

Samsung Fire Buys Canopius in Record Cross-Border Deal

Samsung Fire & Marine Insurance, the number one non-life insurance company in South Korea, is partnering with the world’s largest private equity fund (PEF) KKR of the United States and the sovereign…

  • Samsung Fire acquires Canopius in record-breaking $2.23B deal
  • Samsung now holds 80% stake, KKR and KIC own 13% and 8% respectively
  • Canopius specializes in complex insurance risks, headquartered in UK

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